Finance

OpenPlay launches music distribution and monetization service 

Catalog management platform OpenPlay has launched OpenPlay Reach, a new service aimed at providing delivery, distribution, and monetization services for music and video assets. The company has appointed Bob Barbiere as Executive Vice President and General Manager to lead the new service. Barbiere brings extensive experience in music technology and rights management from previous executive roles at Dubset Media Holdings and Pex.

Source: OpenPlay launches music distribution and monetization service led by industry veteran Bob Barbiere

R.I.P. Hipgnosis: New Owners Change Name to Recognition Music

Hipgnosis, the catalog company with rights to songs by artists including the Red Hot Chili Peppers that became the face of music-as-an-asset-class for Wall Street investors, is being renamed Recognition Music Group, the company said on Wednesday (March 12). The new name covers Hipgnosis Songs Fund,  Hipgnosis Songs Assets, and Hipgnosis Song Management.

Source: R.I.P. Hipgnosis: New Owners Change Influential Catalog Company’s Name to Recognition Music

Aquarian, Raven Capital Debut Raven Music Partners Catalog JV

Aquarian and Raven Capital have launched a music investment fund called Raven Music Partners, which has $250 million in committed funding. Reps for the involved parties reached out with word of Raven Music Partners, which is said to have offices in New York, LA, and South Florida. Founded by former Guggenheim VP Rudy Sahay, Aquarian says it has close to $22 billion in AUM across its “strategic portfolio of insurance and asset management solutions.”

Source: Aquarian, Raven Capital Debut Raven Music Partners Catalog JV

Tariffs latest blow to newspaper industry; AI fears confirmed

Canada supplies most of the newsprint used in America and there’s no easy way for the U.S. to quickly replace its production. Local newspapers already cut to the bone and then some in recent years. Especially hard hit are small papers in rural and suburban communities. Abruptly raising their largest material cost by 25% for no apparent reason will be the last straw for some.

Source: Tariffs latest blow to newspaper industry; AI fears confirmed

Anthropic Raises $3.5 Billion to Develop Next-Generation AI Systems 

Anthropic raised $3.5 billion in a Series E funding round to expand its artificial intelligence offerings. “With this investment, Anthropic will advance its development of next-generation AI systems, expand its compute capacity, deepen its research in mechanistic interpretability and alignment,” the company said in a Monday (March 3) press release. The round gave Anthropic a post-money valuation of $61.5 billion, according to the release.

Source: Anthropic Raises $3.5 Billion to Develop Next-Generation AI Systems | PYMNTS.com

Sony Music, DNS Capital lead $16m funding round for AI licensing platform Vermillio

An AI “licensing and protection” platform called Vermillio has raised $16 million in a Series A funding round led by Sony Music Entertainment and DNS Capital. Vermillio said on Monday (March 3) that it plans to use the funds to scale its operations and continue “building out solutions for a generative AI internet that enables talent, studios, record labels, and more to protect and monetize their content”.

Source: Sony Music, DNS Capital lead $16m Series A funding round for AI licensing platform Vermillio

Snoop Dogg Ditches Spotify After Paltry Royalty Check, Inks Exclusive With Tune.fm

So long, Spotify: Snoop Dogg says he’s “ditching” the streaming service for blockchain-powered competitor Tune.fm, where he’s exclusively released a new single. In no uncertain terms, the longtime crypto enthusiast Snoop Dogg attributed the switch to his allegedly miniscule Spotify royalty payments. And on that front, the rap mainstay said he’d pocketed only $45,000 or so from a staggering one billion Spotify streams.

Source: Snoop Dogg Ditches Spotify After Paltry Royalty Check, Inks Exclusive With Tune.fm

ASCAP Posts Record-Breaking $1.835 Billion in Revenue for 2024

ASCAP, the only performing rights organization in the U.S. to operate on a not-for-profit basis, delivered a record-breaking $1.835 billion in revenue in the 2024 calendar year, an increase of $98 million, or 5.7% over 2023, with $1.696 billion available for royalty distributions — up by $104 million, or 6.5%. The numbers mark the highest amount in revenue and royalty distributions to creators and music publishers in ASCAP’s history.

Source: ASCAP Posts Record-Breaking $1.835 Billion in Revenue for 2024

Report: Perplexity Creating $50 Million Venture Fund for AI Startups 

The company, which is an AI startup itself, will be an anchor investor in the fund, but outside limited partners will provide most of the capital, CNBC reported Tuesday (Feb. 25), citing unnamed sources. It was reported in December that the company closed a $500 million funding round earlier that month, with its backers including SoftBank, Nvidia and Amazon founder Jeff Bezos.

Source: Report: Perplexity Creating $50 Million Venture Fund for AI Startups | PYMNTS.com

SoundExchange surpasses $12bn in distributions to artists and rightsholders to date

The milestone came with February’s royalty payout, SoundExchange said in a statement on Monday (February 24). It comes less than a year after SoundExchange’s payouts passed the $11 billion mark in 2024. The non-profit also reported it had distributed $248.6 million to creators in Q4 2024, bringing gross distributions for 2024 to $1.05 billion, up 4.9% year over year.

Source: SoundExchange surpasses $12bn in distributions to artists and rightsholders to date

Get the latest RightsTech news and analysis delivered directly in your inbox every week
We respect your privacy.